Скачать или смотреть United Spirits Limited (MCDOWELL-N.NS) Q4 FY 24/25 Earnings – Full Coverage

*United Spirits Limited (MCDOWELL-N.NS) Q4 FY 24/25 Earnings – Full Coverage*

*Key Highlights:*
*Financials* – FY25 P&A volume +8.2% YoY, NSV ~₹10,500Cr (+9% YoY), EBITDA margin high teens, ROCE 26.4%; productivity savings ₹388Cr; one-time ₹90-100Cr gain Q4; $50B Indian alcobev market.
*Operations* – McDowell’s 13M cases, 7 brands 1M cases; luxury/premium +11% YoY, lower prestige +8%; Andhra Pradesh re-entry adds 3.1% NSV; innovation ~10% NSV; tariffs minimal (2% costs).
*Strategy* – CEO Praveen Swamishwar emphasized premiumization, innovation; CFO Pradeep Jain highlighted margin sustainability; focus on on-premise channel, digital, ESG (99% renewable energy); UK-India FTA to boost scotch volumes.
*Outlook* – FY26: sustain high teens EBITDA margin, double-digit P&A growth; UK-India FTA (~8% scotch volume uptick by FY27); on-premise to drive sampling; stable commodity costs; innovation to double NSV contribution in 3-5 years.

*Timestamps:*
[00:00] – Opening Remarks and Introduction
[00:39] – IR Overview: Safe Harbor Statement (Shweta Arora)
[01:53] – CFO Update: Introduction (Pradeep Jain)
[03:12] – CEO Update: Business Highlights (Praveen Swamishwar)
[10:42] – CEO Update: Brand Portfolio and Innovation
[18:25] – CEO Update: Organization and Digital Strategy
[24:29] – CEO Update: ESG Initiatives
[30:20] – CFO Update: Financial Performance
[36:29] – CEO Update: Future Outlook
[37:43] – Q&A Session Begins
[37:43] – Q&A: Industry Challenges and Innovation (Abnish Roy)
[47:46] – Q&A: UK-India FTA and Competition (Abnish Roy, Follow-Up)
[52:57] – Q&A: Innovation Strategy (Harit Kapoor)
[56:39] – Q&A: Margin Expansion (Persi Pantaki)
[1:00:02] – Q&A: On-Premise Channel and Costs (Vismeya Agarwal)
[1:02:59] – Q&A: McDowell’s X Series and UP Market (Himanshu Shah)

*Keywords:* United Spirits, Q4 24/25 earnings, MCDOWELL-N.NS, alcobev, premiumization, innovation, McDowell’s, UK-India FTA, ESG, on-premise channel

*Buy, Hold, or Sell?*
United Spirits Limited (MCDOWELL-N.NS) is a **BUY**. FY25 P&A growth (+8.2%) and high teens EBITDA margin in a $50B alcobev market, with premiumization (luxury +11%) and Andhra re-entry, signal strength; UK-India FTA and innovation (target 20% NSV) drive upside, despite regulatory challenges.

*Max Position* – Allocate *2-3%* in a diversified portfolio.

*Comment below with your thoughts! Subscribe for more updates!*
*Full Details:* [United Spirits Investor Relations](https://www.diageoindia.com/investors)

*Disclaimer:* This video includes segments from the earnings call by United Spirits Limited, used solely for educational and informational purposes under fair use (Section 107, US Copyright Act). No affiliation or endorsement by United Spirits is implied. All rights to the original content remain with the company. For the official call, visit [https://www.diageoindia.com/investors](https://www.diageoindia.com/investors). For inquiries or requests for removal, please contact us at [email protected].